This recently completed thesis provides an overview of the historical and current trends in international debt crises, especially concerning sovereign borrowing and lending practices. Particular attention is given to the rise of litigious vulture funds, as well as the possibilities of developing...

The financial crisis of 2008 has rekindled interest in sovereign debt crises among policy makers and scholars. History shows that lending booms typically end in busts, with the beneficiaries of debt in the upswing often forced to default or reschedule their debts in the downswing (Sturzenegger...

Public debt in the OECD area passed annual GDP in 2011 and is still rising. For many countries, just stabilising debt - let alone bringing it down to a more sustainable level - is a major challenge. The debt overhangs can affect growth through channels such as raising the cost of capital. The...